Slovakia: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Slovakia

In 2021, the Slovak denatured ethyl alcohol market increased by 99% to $X, rising for the fifth year in a row after three years of decline. In general, consumption showed resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Denatured Ethyl Alcohol Production in Slovakia

In value terms, denatured ethyl alcohol production contracted markedly to $X in 2021 estimated in export price. Overall, production recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 166% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Denatured Ethyl Alcohol Exports

Exports from Slovakia

In 2021, after two years of growth, there was significant decline in overseas shipments of denatured ethyl alcohol and other denatured spirits, when their volume decreased by -94.2% to X tons. Overall, exports recorded a dramatic descent. The pace of growth appeared the most rapid in 2019 when exports increased by 14,156% against the previous year. The exports peaked at X tons in 2020, and then fell rapidly in the following year.

In value terms, denatured ethyl alcohol exports reduced markedly to $X in 2021. In general, exports showed a precipitous setback. The most prominent rate of growth was recorded in 2019 with an increase of 11,571% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons) was the main destination for denatured ethyl alcohol exports from Slovakia, with a 91% share of total exports. Moreover, denatured ethyl alcohol exports to Poland exceeded the volume sent to the second major destination, the Czech Republic (X tons), more than tenfold. The third position in this ranking was held by Austria (X tons), with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Poland totaled -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+20.2% per year) and Austria (-99.5% per year).

In value terms, Poland ($X) emerged as the key foreign market for denatured ethyl alcohol and other denatured spirits exports from Slovakia, comprising 82% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 15% share of total exports. It was followed by Austria, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value to Poland stood at -7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+18.4% per year) and Austria (-99.4% per year).

Export Prices by Country

In 2021, the average denatured ethyl alcohol export price amounted to $X per ton, declining by -30.3% against the previous year. Over the period under review, the export price saw a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 17%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Hungary ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+18.1%), while the prices for the other major destinations experienced mixed trend patterns.

Denatured Ethyl Alcohol Imports

Imports into Slovakia

Denatured ethyl alcohol imports into Slovakia expanded notably to X tons in 2021, with an increase of 11% compared with the previous year. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2016 when imports increased by 45% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, denatured ethyl alcohol imports soared to $X in 2021. Overall, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +29.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 34% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Hungary (X tons) constituted the largest supplier of denatured ethyl alcohol to Slovakia, accounting for a 72% share of total imports. Moreover, denatured ethyl alcohol imports from Hungary exceeded the figures recorded by the second-largest supplier, Austria (X tons), fivefold. The third position in this ranking was held by Poland (X tons), with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Hungary totaled +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+13.3% per year) and Poland (+33.5% per year).

In value terms, Hungary ($X) constituted the largest supplier of denatured ethyl alcohol and other denatured spirits to Slovakia, comprising 65% of total imports. The second position in the ranking was held by Austria ($X), with a 12% share of total imports. It was followed by Croatia, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Hungary amounted to +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+3.0% per year) and Croatia (-0.5% per year).

Import Prices by Country

The average denatured ethyl alcohol import price stood at $X per ton in 2021, growing by 4.4% against the previous year. In general, the import price, however, saw a mild reduction. The most prominent rate of growth was recorded in 2020 an increase of 51% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Croatia ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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